Magna International (TSE:MG) Share Price Passes Below Two Hundred Day Moving Average – What’s Next?

Magna International Inc. (TSE:MG) (NYSE:MGA)’s share price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$52.78 and traded as low as C$52.29. Magna International shares last traded at C$52.64, with a volume of 887,659 shares traded.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Veritas upgraded shares of Magna International to a “hold” rating in a report on Thursday, April 24th. Royal Bank Of Canada cut Magna International from a “moderate buy” rating to a “hold” rating in a research note on Friday, April 11th. Finally, Bank of America boosted their price objective on shares of Magna International from C$58.00 to C$61.00 in a research note on Monday, June 16th.

Magna International Stock Down 0.1%

The company’s 50-day simple moving average is C$49.93 and its two-hundred day simple moving average is C$52.78. The company has a debt-to-equity ratio of 61.81, a current ratio of 1.14 and a quick ratio of 0.83. The firm has a market capitalization of C$10.65 billion, a P/E ratio of 9.88, a P/E/G ratio of 0.45 and a beta of 1.60.

Magna International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 30th were given a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a dividend yield of 3.69%. The ex-dividend date of this dividend was Friday, May 16th. Magna International’s dividend payout ratio is currently 48.07%.

About Magna International

Magna International prides itself on a highly entrepreneurial culture and a corporate constitution that outlines distribution of profits to various stakeholders. This automotive supplier’s product groups include exteriors, interiors, seating, roof systems, body and chassis, powertrain, vision and electronic systems, closure systems, electric vehicle systems, tooling and engineering, and contracted vehicle assembly.